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Hi All Recently signed up for house and land package as IP. Signed contract for land in May. Land titles now expected August after which settlement will occur then the builder can commence. As we intend to sell this when the house is completed when does the 50% CGT discount apply? When house...

Lex has been recommended by Kim, a member of this forum. Keystart is a State Government scheme to help low income earners with very little deposit required and a very competative interest rate, currently 5.25%. Gavin is going to get in touch with Lex to see where he stands. Thanks for all your...

Hi Guys Our son is currently living with us but is keen to get a place of his own. He would like to take advantage of the boost in the Government's First Homeowner's Grant. Keystart, together with the State Government's Shared Equity Scheme in WA, seems to be his best option but they won't...

Hi All My uncle in the UK is sending me a bank cheque for 10,000 in GBP. The exchange rates offered by the ANZ compared to forex companies is consideringly lower. Unfortunately they won't deal with cheques. Does anyone know where I can do better than my bank with this cheque? Cheers:)

Hi All Wonder if you can advise on our situation. We have an IP solely in my husband's name as he has a much higher salary than me. He would like to retire in 3 or 4 years time. Can you enlighten us on CGT and the best way to go. For instance, can he contribute the proceeds of the sale to his...

Hi Kathryn We have a 5 year lease with the managers and this was negotiated collectively with all the other owners of the units.We didn't feel brave enough to go it alone and thought this was the easier option. At least we are assured of the monthly rent without the worry and expense of...

Thanks All We get $442.50 monthly rent [$5310 pa]. This is based on 4.5% of original selling price of $118,000. The managers pay strata levy of $2300 pa and we get 2 weeks free accommodation which they value as $1200. We pay annual water,rates and contents ins. approx $2200. It's hard to...

Hi All We have a IP managed serviced apartment. We took out an IO loan of $128,000 with Members Equity in 2003 against our PPOR as they would not finance a serviced apartment.This was done thinking that we would sell the apartment and pay off the loan. However,because the banks won't lend for...

Thanx Thanks Lynn. Appreciate the time you took to reply to me.

Hi All We have an investment property but since we are near retirement I would like someone to explain the 6 year rule I have heard about. We are keen to minimise capital gains tax. Is it correct that if you make the IP your PPOR then CGT would not apply after 6 years ? Thanks